ICI pushes to recover P5B from flood control scandal
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The Independent Commission for Infrastructure (ICI) technical working group (TWG) met Thursday, 30 October, to discuss asset recovery efforts related to alleged anomalies in several flood control projects.
ICI Executive Director Brian Keith Hosaka said the meeting aimed to provide updates on ongoing efforts to recover public funds believed to have been stolen through corruption.
He disclosed that the Anti-Money Laundering Council (AMLC) has so far traced around ₱5 billion linked to the irregularities, spread across 2,800 bank accounts.
The TWG is composed of representatives from various government agencies working in coordination with the ICI. Officials from the AMLC, Bureau of Internal Revenue (BIR), Bureau of Customs (BOC), Department of Transportation (DOTr), and the Insurance Commission were expected to attend. Hosaka added that the Civil Aviation Authority of the Philippines (CAAP) also confirmed its attendance.
Meanwhile, the Department of Public Works and Highways (DPWH) said one of the key topics for discussion would be the forfeiture case to be filed by the national government as part of its broader asset recovery initiative.
The ICI is now in the final stages of developing a comprehensive framework for recovering billions in public funds and assets lost to anomalous infrastructure projects. The inter-agency effort aims to trace, seize, and retrieve vast sums allegedly misused in major corruption scandals, including the highly controversial flood control scandal.
Andres Reyes, ICI Chairman, emphasized the urgency of the task during his opening remarks at the closed-door TWG Coordination Meeting on Asset Recovery.
“We know that every peso taken is a peso lost in services for the people. That is why it is important for us to work together and help each other to get back the money which is owned by the people,” Reyes said.
The primary objective of the TWG meeting, which gathered representatives from more than a dozen critical government agencies, was to discuss and finalize the framework for inter-agency coordination, information sharing, and legal procedures required for national asset recovery. The framework also outlines operational guidelines, timelines, and priority actions to support accountability initiatives.
The range of agencies invited reflects the comprehensive, multi-faceted approach the government is taking to ensure successful asset tracing and recovery. The effort involves key players in finance, law enforcement, investigation, and regulatory oversight, enabling illicit funds to be traced across multiple sectors—from banking to property registration.
Agencies participating in the recovery framework include:
Financial & Regulatory: Anti-Money Laundering Council (AMLC), Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Commission on Audit (COA), and the Insurance Commission (IC).
Legal & Enforcement: Department of Justice (DOJ), Office of the Solicitor General (OSG), Philippine Competition Commission, and the Civil Service Commission (CSC).
Asset Tracing & Investigation: Land Registration Authority (LRA), Land Transportation Office (LTO), Bureau of Customs (BOC), Civil Aviation Authority of the Philippines (CAAP), Maritime Industry Authority (MARINA), and the Cybercrime Investigation and Coordinating Center (CICC).
